DefiLlama Founder Introduces Realized Perp Slippage Metric for Trading Platforms

DefiLlama founder 0xngmi said on X that a new metric called Realized Perp Slippage has been launched for trading platforms. According to Odaily, the metric snapshots the order book just before a market order is executed, calculates the theoretical slippage the order should have incurred, and compares it with the actual slippage at execution. 0xngmi said the metric was introduced because the team initially focused on order book liquidity, but later found that orders often did not execute as expected due to mechanisms such as speed preference. He said market makers would withdraw liquidity before orders were executed, so the team began tracking actual liquidity conditions.